Rate Watch

Interest Rate Watch

Variable Interest Rates

If you have a variable rate home loan, interest rates movements are the biggest single impact on your mortgage repayments each month. When the Reserve Bank lifts official interest rates by 0.25%, the interest rate rise flows on to variable rate home loans and usually takes the lender's standard variable rates up by roughly same amount. Every bank and lender is different, so you need to check! The interest rate increase usually adds about $16 dollars a month to loan repayments for every $100,000 in outstanding borrowings on your mortgage over 25 years.

Fixed Interest Rates

Most people do not understand that variable interest rate movements and fixed interest rate movements do not come from the same source. They are certainly linked, but the drivers are totally different. Variable interest rates are driven by Reserve Bank policy; fixed interest rates are driven by the views of those that put their money out to the fixed rate wholesale market.

Information on Interest Rates

Here at Rate Watch you will find the latest finance news and information on the economy and where interest rates are heading, as well as the effect of any rate changes on home loan repayments since November 1999. It is simple and easy to read – demonstrated in everyday language!

X Inc. Banks and Lenders

The lenders listed here are the lenders who X Inc mortgage brokers deal with everyday as we link homeowners, investors and business people with the best finance products available from our major banks and a broad range of other lenders. Usually the lender areas that deal with residential loans are different to those who deal with commercial or business loans. The kind of deals and rates a lender offers is typically a reflection of their specialization and comfort with that kind of lending.

Good mortgage brokers understand a broad range of lender preferences and that is why it is really useful to talk to a local mortgage broker about your specific situation.  They will use their knowledge and specialized software to assist you in making the most informed decision. Simply put, a Mortgage Broker evaluates your situation against the lenders on their panel for the best deal. More information on how to pick a home loan or how to assess the right business loan is available right here on the X Inc. site.

locations

X Inc Finance has mortgage brokers in most majors cities in Australia including Sydney, Melbourne, Brisbane, Perth, Canberra, Wollongong, Nowra, Bega, Bowral, Newcastle, Gold Coast, Sunshine Coast, Cairns, Kingscliff, Bendigo, Bundaberg and many others.  To talk to your local mortgage broker, click on your state and we will have them contact you within 2 business hours: New South Wales, Victoria, Queensland, Western Australia, South Australia, Australian Capital Territory, Tasmania.